Caleb Sherdian, co-founder of Eden Network, Ethereum Merge He warned the crypto community by mentioning the cons of the update.
Caleb Sherdian on Ethereum Merge update ETH thinks that it has transformed its network into a more centralized structure.
“The amount of supply used as a validator in Ethereum is very low. And some of the new validators have a large share. This moves Ethereum towards a centralized structure. To avoid this situation, more people should stake ETH.”
It’s Been A Month Since Merge Update!
Cryptocurrency It has been exactly 1 month since the Ethereum Merge update, one of the most important events in history. While Ethereum’s inflation has drastically decreased over the past month, there has been no net change in network fees and transfer speeds.
With the Merge update, Ethereum mining is a thing of the past. ETH miners have been replaced by stake holders who have locked at least 32 ETH in the network. The energy consumption of the Ethereum network has dropped to almost zero after the update. However, new PoS Some criticisms were raised because not everyone could meet the amount of ETH required to participate in the system.
The old ETH mining system had a decentralized structure. However, centralized exchanges have taken over the bulk of the proof-of-stake system, as the new system asks for at least 32 ETH.
Binance, Kraken, coinbase and Lido Platforms like Proof of Stake account for 60% of participation. For this reason, some crypto experts believe that Ethereum is no longer decentralized.
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